TDC owners confirm share sale

Following rumours last week that shareholders of Danish telco TDC were looking to divest part of their stake in the operator, a group of five private equity investors have now confirmed plans for a share sale worth around EUR750 million (USD991 million). NTC Holding, a consortium which comprises equity firms Blackstone, Providence, KKR, Permira and Apax, currently holds 59.1% of TDC’s shares. The group has filed sale documents under which around 128 million shares – approximately 15% of TDC’s equity – will be offloaded, Bloomberg reports. Although the per-share price has not been disclosed, it is thought that the sale price will be about 4% down on TDC’s closing price yesterday.